Jim Rogers Warns: Albert Edwards Is Right “Sell Everything & Run For Your Lives”
Tyler Durden: From Bitcoin to the Swiss gold referendum, and from Chinese trade and North Korean leadership, Jim Rogers covers a lot of ground in this excellent interview with Boom-Bust’s Erin Ade.
Rogers reflects on the end of the US bull market. citing a number of factors from breadth to the end of QE, adding that he agrees with Albert Edwards’ perspective that now is the time to “sell everything and run for your lives,” as the “consequences of [The Fed] are now being felt.”
Most notably though, Rogers believes the de-dollarization is here to stay as Western sanctions force many nations to find alternatives.
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Simply put, Rogers concludes, “we are all going to pay a terrible price for all this money-printing and debt.”
Excerpts:
On US stocks:
This is the end of the bull market. Stocks will fall 20% .
Market breadth is waning as evidenced by the lower number of stocks hitting new highs and trading above their 200-day moving averages. Small cap stocks have already corrected over 10 percent and almost half of the Nasdaq is down 20 percent – a bear market already.
Where is this headed? Consolidation is the bare minimum. But, depending on the real economy, it could be worse.
“Any pension plans, endowments, etc., are suffering because they invest for the futures and are finding that their situation has gotten worse,” he says.
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